When will mortgage rates go down again?

The national average 30-year rate is the lowest it's been since 2022 — now sitting at 5.98%, according to Freddie Mac. What does a sub-6% home loan rate mean for 2026 housing market? Will mortgage rates continue to drop? Are mortgage rates dropping? In short, yes. As of February 26, Freddie Mac reported that the average 30-year fixed-rate mortgage rate is 5.89%. This is three basis points lower than last week, and 78 basis points lower than this time last year. In late February 2025, mortgage rates ave ...